No investor could be found for insolvent companies Neue Alno and BBT Bodensee Bauteile. Since, according to managing directors Jochen Braun (finance/production) and Michael Spadinger (sales/purchasing), it is not possible to continue the two companies unassisted, business operations must be discontinued by the end of September. The remaining orders are to be produced by then. According to management of the companies, no potential investor was ultimately willing to provide the necessary bridge financing for the planned investments in new machinery and software.
The possibilities of setting up a transfer company are currently being examined. The establishment of such a company is still subject to various as yet unspecified conditions, however. Some 230 employees are affected by the insolvency. Neue Alno had already axed almost 60 jobs across all divisions in spring 2020. Employees were informed of the current development on 7 September.
The district court in Hechingen opened the insolvency proceedings in self-administration concerning Neue Alno and BBT Bodensee Bauteile on 1 September. The previous provisional administrator, Dr. Holger Leichtle from corporate law firm Görg, was confirmed as administrator. A corresponding application from the end of June had been granted by the court on 5 July. At that time, reasons given for the shortage in liquidity had included delays in the receipt of payments from the sale of a property in Pfullendorf, higher pre-financing expenses in connection with the corona crisis, delayed payments from customers and increased material costs.